Snowflake Inc. (NYSE:SNOW) Stock Holdings Trimmed by Wolff Wiese Magana LLC

Wolff Wiese Magana LLC reduced its position in Snowflake Inc. (NYSE:SNOW) by 48.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 508 shares of the company’s stock after selling 485 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Snowflake were worth $74,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in shares of Snowflake during the first quarter valued at approximately $26,000. CVA Family Office LLC grew its holdings in shares of Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock valued at $29,000 after purchasing an additional 88 shares during the last quarter. West Paces Advisors Inc. bought a new position in shares of Snowflake during the fourth quarter valued at approximately $31,000. Spurstone Advisory Services LLC bought a new position in shares of Snowflake during the fourth quarter valued at approximately $31,000. Finally, Capital A Wealth Management LLC bought a new position in shares of Snowflake during the fourth quarter valued at approximately $31,000. 65.10% of the stock is owned by institutional investors.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 2,975 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $208.00, for a total value of $618,800.00. Following the completion of the transaction, the executive vice president now owns 562,609 shares of the company’s stock, valued at $117,022,672. This represents a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the completion of the transaction, the director now directly owns 26,375 shares of the company’s stock, valued at $3,408,968.75. This trade represents a 1.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 894,638 shares of company stock worth $169,965,038. Company insiders own 6.80% of the company’s stock.

Snowflake Stock Down 0.1%

NYSE SNOW opened at $211.84 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a 50-day simple moving average of $183.12 and a 200 day simple moving average of $171.94. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $215.99. The stock has a market cap of $70.73 billion, a PE ratio of -50.32 and a beta of 1.21.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company earned $0.14 earnings per share. The firm’s revenue was up 25.8% on a year-over-year basis. On average, research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Morgan Stanley reaffirmed an “equal weight” rating on shares of Snowflake in a report on Thursday, May 22nd. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Snowflake in a report on Thursday, May 22nd. DA Davidson reaffirmed a “buy” rating and set a $250.00 target price on shares of Snowflake in a report on Wednesday, June 4th. Macquarie boosted their price objective on Snowflake from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 4th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $212.00 price objective (up from $196.00) on shares of Snowflake in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $223.54.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.